At COP 16 held in Cancun, by decision
1/CP.16, Parties established the Green Climate Fund
(GCF) as an operating entity of the Financial Mechanism of the Convention under Article 11. The
Fund is governed by the GCF Bo ard and it is accountable to and functions under the guidance of the
COP to support projects, programmes, policies and other activities in developing country Parties
using thematic funding windows.
The GCF was designed by the Transitional Committee (TC) as per
paragraph 109. Based on the report of the TC ( FCCC/CP/2011/6
and Add.1), at COP
17 held in Durban, Parties adopted decision 3/CP.17
and approved the
Governing Instrument for the GCF.
The Governing Instrument for the GCF stipulates that the assets of the GCF will be administered by a
trustee only for the purpose of, and in accordance with, the relevant decisions of the GCF Board. The
World Bank was invited by the COP to serve as the interim trustee of the GCF, subject to a review
three years after operationalization of the Fund. In 2015, the GCF Board invited the World Bank to
continue serving as the Interim Trustee until a permanent Trustee is appointed ( Board decision B.08/22). The process to appoint the permanent Trustee should be
finalized no later than the end of 2017.
At COP 18 held in Doha, Parties requested the Standing
Committee on Finance and the GCF Board to develop arrangements between the COP and the GCF for
agreement by the Board and subsequent agreement by the COP. Parties recognized that the provisions
contained in Article 11, paragraph 3, and decision 3/CP.17 and the governing instrument of the GCF
contained in the
annex to 3/CP.17 form the basis for the arrangements between the COP and the GCF. At COP 19 held
in Warsaw, Parties agreed to the arrangements between
the COP and the GCF to ensure that the GCF is accountable to and functions under the guidance of
Parties, at COP 18, endorsed the consensus decision of the GCF Board to select Songdo, Incheon,
Republic of Korea as the host of the GCF. At COP 19, Parties welcomed the establishment of the
independent GCF secretariat and provided initial guidance to the GCF.
At COP 21 held in Paris, by decision 1/CP.21, paragraph 58, the COP decided that the GCF shall serve the Paris
Agreement. The COP also decided that the guidance to the entities entrusted with the operation of the
Financial Mechanism of the Convention in relevant decisions of the COP, including those agreed before
adoption of the Paris Agreement, shall apply mutatis mutandis.
Article 9 of the
Paris Agreement states that the institutions serving the Agreement, including the operating
entities of the Financial Mechanism of the Convention, shall aim to ensure efficient access to
financial resources through simplified approval procedures and enhanced readiness support for
developing country Parties, in particular for the least developed countries and small island
developing States, in the context of their national climate strategies and plans.
Guidance provided in
decision -/CP.22, Report of the Green Climate Fund to the Conference of the Parties and guidance
to the Green Climate Fund
The COP welcomed the actions taken by the GCF Board in response to previous guidance from the COP as
contained in decisions 3/CP.17, 6/CP.18, 4/CP.19, 7/CP.20 and 7/CP.21 and looked forward to the
ongoing and timely implementation of the GCF Board decisions and guidance received from the COP,
including the strategic plan, and the scaling up of investments in ambitious country-driven climate
The COP urged the GCF Board to finalize in a timely manner its work related to the guidance of the
COP on financing for forests as mandated by decision 7/CP.21, paragraphs 23–25;
The COP requested the GCF Board to facilitate an increase in the amount of direct access proposals in
the pipeline and to report to the COP on progress made in this regard. COP 22 also requested the GCF
Board to take into account decision 1/CP.21, paragraph 64, to enhance the coordination and delivery
of resources to support country-driven strategies through simplified and efficient application and
approval procedures, and through continued readiness support to developing country Parties, including
the least developed countries and small island developing States, as appropriate, and in accordance
with Board decisions.
The COP further requested the GCF Board to enhance the delivery of resources by addressing those
measures that are delaying the implementation of projects that have been approved by the Board,
including the conclusion of pending accreditation master agreements and funded activity agreements.
The COP encouraged the GCF Board to implement its decision B.04/08 to develop modalities to support
activities enabling private sector involvement in the least developed countries and small island
developing States, and to seek opportunities to engage with the private sector, including local
actors, on adaptation action at the national, regional and international levels.
Additional guidance to the GCF was provided in the following decisions:
Decisions by COP 22:
Enhancing climate technology development and transfer through the Technology Mechanism
Linkages between the Technology Mechanism and the Financial Mechanism of the Convention
Paris Committee on Capacity-building
Improving the effectiveness of the Doha work programme on Article 6 of the Convention
Conclusions by the Subsidiary Body for Implementation 45:
Agenda Item 14(c):
Paris Committee on Capacity-building